Parker-Hannifin Corp (PH) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in Parker-Hannifin Corp (NYSE:PH) by 25.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,872 shares of the industrial products company’s stock after selling 88,328 shares during the period. Bank of Montreal Can owned 0.20% of Parker-Hannifin worth $47,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blair William & Co. IL lifted its holdings in shares of Parker-Hannifin by 12.1% during the first quarter. Blair William & Co. IL now owns 4,498 shares of the industrial products company’s stock valued at $769,000 after purchasing an additional 487 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Parker-Hannifin by 7.3% during the first quarter. Guggenheim Capital LLC now owns 210,924 shares of the industrial products company’s stock valued at $36,076,000 after purchasing an additional 14,364 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 8.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 138,876 shares of the industrial products company’s stock valued at $23,753,000 after purchasing an additional 11,193 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Parker-Hannifin during the first quarter valued at approximately $6,042,000. Finally, Private Capital Group LLC lifted its holdings in shares of Parker-Hannifin by 272.2% during the first quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 645 shares during the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.

Shares of PH opened at $162.54 on Thursday. The company has a market cap of $24.36 billion, a P/E ratio of 15.60, a PEG ratio of 1.43 and a beta of 1.41. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.74. Parker-Hannifin Corp has a twelve month low of $152.47 and a twelve month high of $212.80.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $0.31. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.83 billion. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.43 EPS for the current fiscal year.

In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the sale, the vice president now owns 1,325 shares of the company’s stock, valued at approximately $232,352. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the sale, the vice president now directly owns 15,731 shares of the company’s stock, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Several equities analysts have recently issued reports on PH shares. Argus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 target price for the company. in a report on Tuesday, August 14th. Buckingham Research upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a report on Friday, September 14th. Morgan Stanley started coverage on shares of Parker-Hannifin in a report on Monday, August 20th. They set an “equal weight” rating and a $185.00 target price for the company. Jefferies Financial Group reissued a “$162.10” rating and set a $170.00 price target on shares of Parker-Hannifin in a research report on Wednesday, July 18th. Finally, Robert W. Baird set a $190.00 price target on shares of Parker-Hannifin and gave the company a “buy” rating in a research report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Parker-Hannifin currently has an average rating of “Hold” and a consensus price target of $187.17.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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